DPRK Law Prohibits Money Laundering

by Richardson ~ February 20th, 2007. Filed under: Asides.

From the Korea Times: “The National Intelligence Service (NIS) on Tuesday confirmed that North Korea recently enacted a law that prohibits money laundering… The enactment apparently aimed at settling the U.S. financial sanctions on a bank in Macau…” In other news, North Korea invents so-called ‘reverse psychology laws.’ The cadres love it.

1 Response to DPRK Law Prohibits Money Laundering

  1. Scott

    I think this is more than reverse psychology, by passing this law the gov’t is disowning its own actions in money laundering, implying that it was some lower-level independent activity that the government itself certainly had nothing to do with (perish the thought!).
    This will “prove” that the DPRK is nixing such abhorrent behavior and having “taken care” of the situation without admitting any guilt or compliance in the situation can now receive whatever Banco Macao Delta funds that the Treasury can’t explicitly tie to any illicit activity.
    It may never be enforced in North Korea but it gives the impression to the U.S. Treasury that they are addressing the problem without acknowledging any responsibility for it.

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